According to The420.com, over 5,000 vehicle owners in Delhi have received counterfeit policies and a leading insurance company is grappling with significant financial losses. This scheme exploited online portals, manipulating policy details to issue invalid cover, primarily affecting three and four-wheeled vehicles.

But although the report concentrates on Delhi, there were more than 80,000 cases across the country. Persons with access to the insurance company's "portal" manipulated information relating to vehicles and policyholders - in fact only 14 of the relevant policies had details of real people. 

Basically, the fraudsters sold policies for three and four wheeled vehicles and collected the premiums, then the entered fictitious details for two wheelers which attract a much lower price, paid the lower price, got a certificate for the policyholder and kept the difference in cost. 

74% of the fraudulent deals were done online.

The full report is here; https://the420.in/fake-policies-real-losses-delhi-uncovers-massive-fake…